PSP Projects gains on winning orders.

PSP Projects rose 2.77% to Rs. 495.45 after the company received letter of acceptances (LOA) amounting to Rs. 1491.34 crore for construction of medical colleges and hospitals at multiple locations at Uttar Pradesh.

Additionally, the company has secured new work orders worth Rs. 25.58 crore for residential and institutional projects from various clients in Gujarat.

"With receipt of the above, the total work orders received during financial year 2020-21 on standalone basis amounts to Rs. 2436.86 crore and the outstanding order book considering December book stands at Rs. 4736.88 crore," PSP Projects said in a statement. The announcement was made after market hours on Monday (8 March 2021).

PSP Projects is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in the country.

The company's consolidated net profit declined by 20.1% to Rs. 29.17 crore on 7.8% fall in net sales to Rs. 390.16 crore in Q3 FY21 over Q3 FY20.

BS